Ameritas Investment Partners Inc. Has $2.17 Million Stock Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Ameritas Investment Partners Inc. increased its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 230.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,003 shares of the biopharmaceutical company’s stock after buying an additional 21,622 shares during the period. Ameritas Investment Partners Inc.’s holdings in Cytokinetics were worth $2,174,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in Cytokinetics during the 4th quarter valued at about $46,308,000. Vanguard Group Inc. boosted its stake in Cytokinetics by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock valued at $316,498,000 after purchasing an additional 472,595 shares during the last quarter. HealthInvest Partners AB acquired a new position in Cytokinetics during the 4th quarter valued at about $980,000. Legato Capital Management LLC acquired a new position in Cytokinetics during the 4th quarter valued at about $1,305,000. Finally, Vestal Point Capital LP acquired a new position in Cytokinetics during the 4th quarter valued at about $4,174,000.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CYTK. JMP Securities cut their price target on Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating for the company in a research note on Tuesday, May 28th. Needham & Company LLC cut their price target on Cytokinetics from $108.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Bank of America dropped their target price on shares of Cytokinetics from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, May 23rd. Truist Financial dropped their target price on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Finally, Oppenheimer dropped their target price on shares of Cytokinetics from $107.00 to $106.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $77.06.

Cytokinetics Trading Down 0.1 %

Shares of NASDAQ:CYTK traded down $0.04 during mid-day trading on Tuesday, reaching $57.38. The company had a trading volume of 1,426,719 shares, compared to its average volume of 2,560,603. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of -10.63 and a beta of 0.75. The company’s 50-day moving average price is $54.13 and its 200-day moving average price is $66.82. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The business had revenue of $0.84 million for the quarter, compared to analyst estimates of $0.91 million. During the same quarter last year, the firm earned ($1.38) earnings per share. Cytokinetics’s revenue for the quarter was down 81.8% on a year-over-year basis. On average, research analysts anticipate that Cytokinetics, Incorporated will post -4.5 EPS for the current fiscal year.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, Director John T. Henderson sold 10,562 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total transaction of $681,671.48. Following the sale, the director now owns 32,070 shares of the company’s stock, valued at approximately $2,069,797.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $55.82, for a total transaction of $279,100.00. Following the completion of the transaction, the director now directly owns 20,600 shares in the company, valued at approximately $1,149,892. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Henderson sold 10,562 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total transaction of $681,671.48. Following the transaction, the director now owns 32,070 shares of the company’s stock, valued at $2,069,797.80. The disclosure for this sale can be found here. Insiders have sold 148,341 shares of company stock valued at $8,079,508 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

Cytokinetics Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.